to children. Using the efficiency concepts proposed in Golosov, Jones and Tertilt (2007), we find that whenever the … standard OLG models with exogenous fertility and Millian efficiency in models with endogenous fertility. In particular, we show … that the usual conditions for efficiency are no longer sufficient. Further, we analyze several government policies in this …

, equilibrium wage dispersion is necessary for the economy to approximate efficiency. Without wage dispersion, workers do not search …

of unions is more on equity rather than efficiency. …

production functions indicate a gradual improvement in efficiency and a shift from decreasing to increasing returns to scale due … market economy. It is widely believed that competition has a positive effect on efficiency, but the theoretical and empirical … support is quite scarce. The objective of this paper is to investigate the link between competition and efficiency for the …

a Test for Evolving Efficiency which is a GARCH-M model with time-varying constraints. …

and equilibrium allocations are third best inefficient (where the definition of third best efficiency accounts for …

cartel pricing, airline prices in Europe might come down more gradually as efficiency increases and market niches are … the other hand, significant monopoly power is identified in domestic markets. Given that prices are not high because of …